South Bow Corporation (NYSE:SOBO) Receives $28.80 Average PT from Brokerages

Key Points

• South Bow Corporation (NYSE:SOBO) has received a consensus rating of "Hold" from thirteen research firms, with three analysts recommending a sell, while only one analyst suggests a buy.
• The company's recent quarterly earnings report showed an EPS of $0.42, beating estimates by $0.04, and revenue of $524 million, surpassing expectations of $449 million.
• South Bow announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 7.5%, with a payout ratio of 108.11%.

South Bow Corporation (NYSE:SOBO - Get Free Report) has received an average recommendation of "Hold" from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $28.80.

A number of brokerages recently weighed in on SOBO. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. CIBC lifted their price objective on shares of South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. National Bankshares lifted their price objective on shares of South Bow from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $27.00 price objective on shares of South Bow in a research report on Thursday, August 21st.

Institutional Trading of South Bow

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of South Bow by 2.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,617,143 shares of the company's stock valued at $321,990,000 after acquiring an additional 280,088 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of South Bow by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company's stock valued at $227,531,000 after acquiring an additional 157,355 shares in the last quarter. Bank of Montreal Can raised its position in South Bow by 8.0% in the second quarter. Bank of Montreal Can now owns 6,136,658 shares of the company's stock worth $159,405,000 after acquiring an additional 452,012 shares in the last quarter. Murchinson Ltd. bought a new stake in South Bow in the first quarter worth about $134,592,000. Finally, Goldman Sachs Group Inc. raised its position in South Bow by 157.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company's stock worth $98,288,000 after acquiring an additional 10,510,206 shares in the last quarter.

South Bow Trading Up 0.8%

Shares of NYSE:SOBO traded up $0.22 during trading on Wednesday, reaching $27.72. 694,974 shares of the company's stock traded hands, compared to its average volume of 537,298. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.20. South Bow has a 12 month low of $21.12 and a 12 month high of $28.22. The company has a 50 day moving average of $26.68 and a 200-day moving average of $25.89.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to the consensus estimate of $449.00 million. Equities analysts anticipate that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a $0.50 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.00 annualized dividend and a yield of 7.2%. South Bow's dividend payout ratio (DPR) is currently 108.11%.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.